In a conversation with a colleague, it was suggested that common cooking oils such as olive oil will "go rancid" when heated, causing them to break down, for them to lose their nutritional value, and for them to become in some way bad for you. Further, it was suggested that coconut oil is the only oil that does not suffer from this behaviour.
Authority Nutrition somewhat supports this claim:
When it comes to high heat cooking, coconut oil is your best choice.
Meanwhile, Healthwyze contradicts it:
Coconut oil should only be used in low heat or no heat recipes.
Is coconut oil suitable for high temperature cooking? Is it the 'best' at avoiding going rancid when cooked?